Every Form 4 that Public Storage (PSA) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow PSA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PSA filings page.
Public Storage director John Reyes reported derivative unit conversions into common shares. On February 6, 2026, he exercised 25,000 AO LTIP Units, each tied to Public Storage common shares, at a reference value of $226.20 per share as described in prior award terms.
He also converted 5,296.17 LTIP Units into an equal number of common shares on the same date at a price of $0, reflecting a non-cash redemption of partnership units. Following these moves, he held 28,275 AO LTIP Units and 69,602.16 LTIP/LTIP-related units directly, which can ultimately be redeemed for Public Storage common shares under the partnership structure.
Public Storage President and CEO Russell Joseph Jr. reported an equity award of 25,207 LTIP Units on January 27, 2026 under the company’s 2026 named executive officer compensation program. These LTIP Units vest in three equal annual installments starting one year after the grant date.
Once vested and after certain tax-related allocation conditions are met, the LTIP Units can convert into OP Units of Public Storage OP, L.P., which the executive may exchange for Public Storage common shares or the cash value of those shares. Following this grant, he beneficially owns 95,875.82 LTIP Units, including 55,046.82 vested units and 40,829 subject to time-based vesting.
Public Storage director John Reyes reported equity award conversions. On January 22, 2026, he exercised 50,000 AO LTIP Units into derivative securities tied to 50,000 Common Shares, originally based on an option with a reference price of $226.20 per share. On the same date, he also converted 10,534.58 LTIP Units into derivative securities tied to 10,534.58 Common Shares at a stated price of $0 per unit. Following these transactions, he held 53,275 AO LTIP Units and 64,305.99 LTIP Units, which are ultimately exchangeable into OP Units and then redeemable one-for-one for Common Shares or their cash value at the company’s option.
Public Storage director equity awards and holdings update. A Public Storage (PSA) director reported receiving 4.75 fully vested deferred share units (DSUs) on 12/30/2025 at a reference price of $261.13 per share, bringing directly held common shares (including DSUs) to 7,721.99 and additional indirect holdings of 317,053 shares through a family trust and 1,900 shares through a spouse IRA.
The director also received 357 fully vested LTIP Units in Public Storage OP, L.P. for quarterly retainers, contributing to 147,357.4 LTIP Units beneficially owned. DSUs will be settled in unrestricted common shares upon separation from board service, death, disability, or a change of control, while LTIP Units are intended as profits interests that can convert into OP Units and then into common shares or cash value, subject to tax-related allocation conditions.
Public Storage director equity compensation and holdings updated. Director Ronald P. Spogli received 6.7 fully vested deferred share units (DSUs) on 12/30/2025 in lieu of cash dividend equivalents at a price of $261.13 per share under the company’s 2021 incentive plan. After this transaction, he beneficially owned 12,821.42 common shares directly, including 2,658.42 DSUs, and 2,000 common shares indirectly through a trust he serves as trustee.
Spogli also acquired 164 fully vested LTIP Units in Public Storage OP, L.P. on 12/31/2025 as part of his non-management trustee retainers, bringing his total derivative securities holdings to 4,763.72. Each DSU represents the right to receive one Public Storage common share, and LTIP Units are intended as profits interests that can become OP Units and then be exchanged for common shares or their cash value, subject to tax-related allocation conditions.
Public Storage director reports deferred share unit grant
A director of Public Storage reported receiving 128 fully vested deferred share units (DSUs) on 12/31/2025 under the company’s Non-Management Trustee Compensation and Deferral Program, at a reference share price of $259.5. Each DSU represents the right to receive one common share of Public Storage.
After this grant, the director beneficially owns 3,191 common shares in the form of DSUs directly and an additional 154,685 common shares indirectly through a trust. The DSUs will be settled in unrestricted common shares in a lump sum when the director leaves the board, or earlier upon death, disability, or a change of control of the company.
Public Storage reported that one of its directors acquired additional equity-based compensation. On 12/31/2025, the director received 77 fully-vested deferred share units (DSUs) under the company’s Non-Management Trustee Compensation and Deferral Program, part of its Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The grant was valued using the company’s closing share price of $259.5 on the grant date.
Each DSU represents the right to receive one Public Storage common share. The DSUs will be settled in unrestricted common shares in a lump sum after the director’s separation from service as a trustee, or earlier upon death, disability, or a change of control of the company. Following this grant, the director beneficially owns 1,378 DSUs directly.
Public Storage director reports small stock grant under equity plan
A director of Public Storage reported receiving 128 common shares on 12/31/2025 at a price of $259.50 per share. After this grant, the director beneficially owns 8,896 common shares, held directly.
The shares were granted as unrestricted common stock under Public Storage's Non-Management Trustee Compensation and Deferral Program, part of the company's Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The number of shares reflects the dollar amount of the director’s quarterly cash retainers that was elected to be paid in stock, divided by the company’s closing share price on the grant date and rounded up.
Public Storage reported an equity compensation grant to one of its directors. On 12/31/2025, the director received 128 LTIP Units in Public Storage OP, L.P. under the company’s Non-Management Trustee Compensation and Deferral Program, part of its Amended and Restated 2021 Equity and Performance-Based Incentive Compensation Plan. The number of LTIP Units was calculated by dividing the portion of quarterly cash retainers the director elected to receive in equity by the company’s closing share price on the grant date, and rounding up to the nearest unit.
The LTIP Units are intended to be profits interests for U.S. federal income tax purposes and can be converted, after certain tax allocation conditions are met, into OP Units of Public Storage OP. Those OP Units may then be exchanged by the director for Public Storage common shares or the cash value equivalent, as determined by the company. Following this grant, the director beneficially owned 208 derivative securities reported on this form in direct ownership.